Hiking minimum wage doesn’t cure fiscal ills

Apparently, our national leaders are continuing to debate the ongoing saga of “Minimum Wage.”

Elizabeth Warren, U.S. Senator from Massachusetts, argues (in the September issue of American Legion magazine) that: “No one should work full time and live in poverty.”

Pat Roberts, U.S. Senator from Kansas (same American Legion issue), contends that raising the minimum wage to $10.10 per hour could cost Americans as much as 500-thousand jobs.

I hasten to add a third point of view. In 1955 the minimum wage was 75 cents per hour, but went to $1.00 in 1956. We older folks, who first hit the job market back in 1955, could spend the summer at home and save sufficient money to go to a state college – of course, part time employment during the school year was necessary. The point is that the tuition per semester was a mere $250 to $300 and monthly rent of a room with kitchen privileges was available for $30 per month.

Today, there is no way a student can save sufficient funds during the summer months to pay the tuition or living accommodations without borrowing thousands of dollars every year. Can anyone reasonably imagine that raising the minimum wage will solve this problem?

Our national debt currently stands at $17.6 trillion, which carries with it a $35 billion monthly interest. Possibly, the fact the American dollar is becoming nearly worthless might lead one to believe the average working stiff needs to make more money to keep up with the declining value of the American dollar.

If so, what would be a “fair” wage? Would $20, or $30 or $40 per hour allow the average worker the same opportunities that I had in 1955-56 when the minimum wage was around a dollar per hour?

I submit that no amount of efforts to raise a minimum wage can overcome the rapid decline of our own currency – even foreign countries are beginning to abandon the dollar which was once held in high regard.

Proposed solutions to the deteriorating value of American dollar should begin with a hard look at the manner in which we spend the nation’s wealth in foreign aid and endless wars we cannot win.

On the other hand, the military-industrial complex has declared we are the world’s leader and it is our duty, therefore, to be a world policeman and an arbitrator when necessary to prevent internal strife that could lead to a larger world holocaust. Moreover, we are warned that failure to perform our role in world affairs could result in a terrorist tragedy at home.

Meantime, America’s middle class is disappearing, upper echelon management counts their salary plus benefits in the millions of dollars, and the average worker, according to Sen. Warren, works full time to live in poverty.

Ultimately, this leaves us to solve our greatest riddle: “Should we pursue some mindless effort to raise wages to keep pace with our deteriorating dollar, or quit borrowing money and pay down our national debt so that the minimum wage will be relevant to basic human needs?”